Compliance Compass: Weekly Regulatory Roundup (1 – 5 July 2024)

Summary:

This week's regulatory update highlights significant changes and trends in regulatory policies across the G-20 nations from July 1-5, 2024. Key areas of focus include consumer protection, employment, environment, ESG, financial services, human rights, and intellectual property.

Consumer protection: The Financial Consumer Agency of Canada welcomed a new mandate to oversee the Consumer-Driven Banking Framework, prioritizing innovation and strong consumer protections.

Employment: Australia, Brazil, and the United States implemented changes to employment regulations, including updates to right of entry exemption certificates, health and safety practices, and employee protections.

Environment: Brazil launched a consultation for civil society organizations to participate in the development of the National Plan for the Sustainable Development of Traditional Peoples and Communities, while Japan launched a public consultation on a proposed Ministerial Ordinance to amend the Enforcement Regulations of the Antarctic Environmental Protection Act.

ESG: The European Securities and Markets Authority published its Final Report on the Guidelines on Enforcement of Sustainability Information and a Public Statement on the first application of the European Sustainability Reporting Standards.

Financial services: Argentina, Australia, Brazil, the European Union, India, Russia, and South Korea implemented changes to financial regulations, including updates to public acquisition offers, prudential standards, and data reporting requirements.

Human rights: Brazil and Indonesia announced new policies and guides to promote human rights, including a National Care Policy and a Guide on Human Rights Due Diligence in the Corporate Sector.

Intellectual property: The United Kingdom updated the Manual of Patent Practice.

This summary provides a concise overview of the significant regulatory changes and trends across the G-20 nations, highlighting key areas of focus and impact on businesses and organizations.